In the tech Industry, Sony is a name inscribed in the mind of everyone; the Japan-based firm has further made a statement as its research arm recently unveiled its contactless cryptocurrency hardware wallet with ‘multiple application’ in a recent press release.
Though the new technology has not been named (at least we do not know the name), Sony stated that the device utilizes IC smart card technology which enjoys popularity in Japan. With this, communication with Bitcoin (BTC) and other virtual currency networks would be possible.
Sony in the Blockchain Market
According to the developers from Sony Computer Science Labs (SCSL), the perks of this new technology is in the dispensing with the need to attach the wallet so as to host device via USB as it is almost a custom in the crypto industry. The release explains stipulating that;
“In addition, it is possible to securely generate and store a private key with a highly reliable tamper-proof module within the IC card.”
It is no longer news that Sony has thrown its weight into the blockchain market as the multinational company has joined other startups in experimenting with blockchain technology, and even going the extent of filing several patents for its custom hardware. The company pointed out the multiple application aspect of the technology implying that the device would be designed to be multipurpose;
“This IC card-type cryptocurrency hardware wallet technology not only manages the private keys used for cryptocurrency transactions, but also manages private keys used for other purposes, such as those for permitting the use of personal information using blockchain technology.”
As at press time, there is no information on whether or not there will be a mass circulation of the product but the official press statement by Sony made it clear that “it is an infrastructure technology with multiple possible applications.”